A recent study by CNNmoney has shown that the no. of officials from China coming to the United States on L-1B and L-1A visas has vastly increased since 1996. More than 10,000 L-1 intracompany transfer visas issued to Chinese nationals in 2015 alone, which is four times more than the numbers granted in 2005.
This trend is further propelled by the fact of limited visa alternative for Chinese nationals. Visa for niche trade is applied and filled out in a very short span of time at the onset of April every year. Chinese citizens also do not fall under the category of E-2 Visa.
The L-1 visa provides opportunities for the corporates with their establishments in the United States, and some of the leading foreign countries , to transfer their staff to US.
Chinese corporations, eyeing the above factors have been investing hugely in the United States. In the last year, Chinese companies have spent 17 bn USD alone across the length and breadth of USA. In the current year, this amount has further risen to 29.4 bn USD.
EB-5 investor visas provided to Chinese citizens has witnessed sharp increase from less than 100 to nearly eight thousand visas in 2015. It is also expected that this count will also raise in the years to come.
EB-5 migrant investor visa plan, which provides residency to a person who invests minimum of 5 lakhs of USD in the United States, has been stopped for Chinese citizens in past years owing to very high demand. This visa plan has been surrounded by controversies with a no. of scandals over unaccounted investments, this has paved the way for better responsibility among the lawmakers in the United States. There is no certainty over the prospects of EB-5 visa as it is presently all set for renewal.
Of late, the government of USA has also proclaimed that it will soon stop accepting requests from citizens of China for different types of visa, as annual levels are attained.
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